What does Preamble of HR 6551 do?

This bill requires annual reports on various financial applications It involves national bank and Federal savings association charter applications Depository institution holding company applications are also included The bill was introduced by Mr. Loudermilk and has additional sponsors It was reported with an amendment to the Committee of the Whole House

What does SHORT TITLE. of HR 6551 do?

This Act establishes short titles for legislative reference.

What does ANNUAL REPORT ON NATIONAL BANK AND FEDERAL SAVINGS ASSOCIATION of HR 6551 do?

The Comptroller of the Currency must publish an annual report The report includes data on national bank and Federal savings association charter applications Data includes number of applications received, approved, denied, withdrawn, expired, mooted, or returned Report includes mean and median times for preliminary and final approval of applications Report includes common reasons for denial, withdrawal, or expiration of preliminary approval

What does ANNUAL REPORT ON FEDERAL CREDIT UNION CHARTER APPLICATIONS. of HR 6551 do?

This section requires the National Credit Union Administration (NCUA) to publish an annual report. The report must include the number of Federal credit union charter applications received, approved, denied, withdrawn, inactive, or returned. The report must also include the mean and median times for final approval of applications. To the extent practicable, the report will include common reasons for application denial, withdrawal, inactivity, or return for resubmission.

What does ANNUAL REPORT ON DEPOSITORY INSTITUTION HOLDING COMPANY of HR 6551 do?

The Board of Governors must publish an annual report The report includes application numbers and outcomes The report includes mean and median approval times The report includes common reasons for denial or withdrawal

What does ANNUAL REPORT ON FEDERAL DEPOSIT INSURANCE APPLICATIONS. of HR 6551 do?

This section requires the Federal Deposit Insurance Corporation (FDIC) to publish an annual report. The report must include the number of deposit insurance applications received, approved, denied, withdrawn, mooted, or returned. The report must also include the mean and median times to approve such applications. To the extent practicable, the report must include common reasons for denial or withdrawal of applications.

What does ANNUAL REPORT ON STATE DEPOSITORY INSTITUTION AND STATE CREDIT of HR 6551 do?

This section requires an annual report on State depository institution and State credit union charter applications. The report must include the number of applications received, approved, denied, withdrawn, or otherwise dispositioned by State regulators. The report must also include the mean and median times to approve such applications, with times for each State shown separately. The report will be published jointly by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration Board. The report will be published in consultation with State banking regulators and State credit union regulators.

Back to bills

New BANK Act of 2025 — HR. 6551

Last updated: 2/25/2026 · Introduced: 12/10/2025

Author: Barry Loudermilk (R-GA)

TL;DR (AI)

This bill mandates annual reports from financial regulators detailing the status and processing times of applications for national bank, Federal savings association, Federal credit union, depository institution holding company, and Federal deposit insurance charters.
The reports will include data on the number of applications received, approved, denied, and withdrawn, as well as the average and median times for application approvals.
Additionally, the bill requires a joint report from federal regulators on State depository institution and State credit union charter applications, including approval times for each state.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 5 more.

7 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account